Costco Wholesale Co. (NASDAQ:COST) Position Cut by Cornerstone Advisors LLC

Cornerstone Advisors LLC trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 26.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 37,500 shares of the retailer’s stock after selling 13,600 shares during the quarter. Costco Wholesale comprises about 1.0% of Cornerstone Advisors LLC’s holdings, making the stock its 19th biggest position. Cornerstone Advisors LLC’s holdings in Costco Wholesale were worth $21,186,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of COST. Arbor Capital Management Inc. ADV lifted its stake in Costco Wholesale by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 3,210 shares of the retailer’s stock worth $1,730,000 after purchasing an additional 27 shares during the period. Envestnet Asset Management Inc. grew its stake in Costco Wholesale by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 530,031 shares of the retailer’s stock valued at $285,358,000 after buying an additional 6,049 shares during the last quarter. Keating Investment Counselors Inc. grew its position in shares of Costco Wholesale by 43.0% during the 3rd quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock worth $1,493,000 after purchasing an additional 795 shares in the last quarter. CWM LLC grew its position in shares of Costco Wholesale by 21.9% during the 2nd quarter. CWM LLC now owns 27,402 shares of the retailer’s stock worth $14,753,000 after purchasing an additional 4,915 shares in the last quarter. Finally, Resources Management Corp CT ADV grew its position in shares of Costco Wholesale by 1,396.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 14,960 shares of the retailer’s stock worth $8,054,000 after purchasing an additional 13,960 shares in the last quarter. 66.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Costco Wholesale from $695.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. The Goldman Sachs Group increased their price objective on shares of Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on shares of Costco Wholesale from $610.00 to $675.00 and gave the company an “equal weight” rating in a research note on Thursday. Stifel Nicolaus increased their price objective on shares of Costco Wholesale from $615.00 to $675.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Finally, BMO Capital Markets increased their price objective on shares of Costco Wholesale from $612.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, December 15th. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $659.96.

View Our Latest Stock Report on Costco Wholesale

Insider Activity at Costco Wholesale

In related news, EVP Caton Frates sold 740 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the sale, the executive vice president now directly owns 6,721 shares in the company, valued at approximately $4,593,803.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Caton Frates sold 740 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the sale, the executive vice president now owns 6,721 shares of the company’s stock, valued at approximately $4,593,803.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Craig Jelinek sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $685.93, for a total transaction of $5,487,440.00. Following the sale, the director now directly owns 216,212 shares in the company, valued at approximately $148,306,297.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,752 shares of company stock worth $9,377,669. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Up 0.0 %

COST stock traded up $0.21 during trading on Monday, reaching $723.61. The stock had a trading volume of 722,671 shares, compared to its average volume of 2,033,814. Costco Wholesale Co. has a one year low of $465.33 and a one year high of $728.17. The company has a quick ratio of 0.60, a current ratio of 1.09 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $669.74 and its two-hundred day moving average is $599.99. The company has a market capitalization of $321.09 billion, a price-to-earnings ratio of 49.31, a P/E/G ratio of 5.11 and a beta of 0.77.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings data on Thursday, December 14th. The retailer reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.07. The business had revenue of $57.80 billion during the quarter, compared to the consensus estimate of $57.79 billion. Costco Wholesale had a net margin of 2.65% and a return on equity of 27.44%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.10 EPS. Equities research analysts forecast that Costco Wholesale Co. will post 15.66 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, February 2nd will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, February 1st. Costco Wholesale’s payout ratio is 27.81%.

Costco Wholesale Profile

(Free Report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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